Boston Research & Management Inc. Continues to Hold Holdings in Stryker Corporation (SYK)
Boston Research & Management Inc. held its stake in Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,634 shares of the medical technology company’s stock at the close of the 2nd quarter. Boston Research & Management Inc.’s holdings in Stryker Corporation were worth $643,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SYK. Nwam LLC purchased a new stake in Stryker Corporation during the first quarter valued at approximately $214,000. Davis Rea LTD. increased its holdings in Stryker Corporation by 1.4% during the first quarter. Davis Rea LTD. now owns 50,592 shares of the medical technology company’s stock valued at $6,682,000 after buying an additional 706 shares during the last quarter. Pillar Pacific Capital Management LLC increased its holdings in Stryker Corporation by 1.2% during the first quarter. Pillar Pacific Capital Management LLC now owns 32,340 shares of the medical technology company’s stock valued at $4,257,000 after buying an additional 375 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in Stryker Corporation by 14.6% during the first quarter. Signature Estate & Investment Advisors LLC now owns 9,950 shares of the medical technology company’s stock valued at $1,310,000 after buying an additional 1,269 shares during the last quarter. Finally, Eagle Ridge Investment Management increased its holdings in Stryker Corporation by 0.6% during the first quarter. Eagle Ridge Investment Management now owns 43,174 shares of the medical technology company’s stock valued at $5,684,000 after buying an additional 245 shares during the last quarter. 74.13% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (NYSE SYK) opened at 140.89 on Monday. The firm’s 50-day moving average is $143.56 and its 200 day moving average is $138.98. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 31.45 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders have sold 25,429 shares of company stock valued at $3,686,927 in the last ninety days. Insiders own 7.40% of the company’s stock.
A number of analysts have commented on SYK shares. BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 target price on shares of Stryker Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Stryker Corporation in a report on Monday, June 19th. Citigroup Inc. upped their target price on shares of Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a report on Friday, June 9th. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Stryker Corporation currently has a consensus rating of “Hold” and an average price target of $145.73.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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